Bridgeway Capital Management LLC Sells 76,150 Shares of Photronics, Inc. $PLAB

Key Points

• Bridgeway Capital Management LLC reduced its stake in Photronics, Inc. by 16.3%, selling 76,150 shares and holding approximately 0.61% of the company worth $8,103,000.
• Photronics reported Q2 earnings of $0.51 per share, surpassing consensus estimates of $0.39, with revenue of $210.39 million for the quarter.
• As of now, Photronics stock has an average rating of "Buy" from analysts, with a consensus price target of $31.00.

Bridgeway Capital Management LLC trimmed its holdings in Photronics, Inc. (NASDAQ:PLAB - Free Report) by 16.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 390,329 shares of the semiconductor company's stock after selling 76,150 shares during the quarter. Bridgeway Capital Management LLC owned approximately 0.61% of Photronics worth $8,103,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Menard Financial Group LLC bought a new position in shares of Photronics during the fourth quarter worth $66,000. State of Wyoming purchased a new stake in shares of Photronics in the first quarter worth about $98,000. Heck Capital Advisors LLC bought a new stake in Photronics in the 4th quarter worth approximately $110,000. CWM LLC raised its holdings in shares of Photronics by 36.1% during the 1st quarter. CWM LLC now owns 6,755 shares of the semiconductor company's stock worth $140,000 after acquiring an additional 1,793 shares in the last quarter. Finally, Perkins Coie Trust Co boosted its position in shares of Photronics by 11.9% during the 1st quarter. Perkins Coie Trust Co now owns 9,400 shares of the semiconductor company's stock valued at $195,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors own 88.38% of the company's stock.

Photronics Price Performance

Shares of PLAB traded down $0.17 during mid-day trading on Tuesday, reaching $22.48. 186,415 shares of the company's stock traded hands, compared to its average volume of 636,081. The stock's 50-day moving average is $20.69 and its two-hundred day moving average is $19.82. Photronics, Inc. has a 12 month low of $16.46 and a 12 month high of $31.60. The stock has a market cap of $1.35 billion, a P/E ratio of 12.76 and a beta of 1.53.

Photronics (NASDAQ:PLAB - Get Free Report) last posted its quarterly earnings data on Wednesday, August 27th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.39 by $0.12. Photronics had a return on equity of 8.19% and a net margin of 12.67%.The company had revenue of $210.39 million during the quarter, compared to analysts' expectations of $204.30 million. During the same quarter in the previous year, the business earned $0.51 EPS. Photronics's revenue was down .3% compared to the same quarter last year. Photronics has set its Q4 2025 guidance at 0.420-0.480 EPS. Research analysts predict that Photronics, Inc. will post 2.3 earnings per share for the current year.

Insider Transactions at Photronics

In related news, SVP Han Kyung Park sold 15,000 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $22.00, for a total value of $330,000.00. Following the transaction, the senior vice president owned 103,000 shares of the company's stock, valued at $2,266,000. This trade represents a 12.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mitchell G. Tyson sold 15,000 shares of the business's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $19.97, for a total transaction of $299,550.00. Following the completion of the sale, the director directly owned 56,927 shares of the company's stock, valued at approximately $1,136,832.19. This trade represents a 20.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,382 shares of company stock valued at $1,534,335. Company insiders own 3.20% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PLAB shares. DA Davidson dropped their price objective on shares of Photronics from $35.00 to $30.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Singular Research raised shares of Photronics to a "strong-buy" rating in a report on Thursday, September 4th. Craig Hallum assumed coverage on Photronics in a research note on Wednesday, June 11th. They set a "buy" rating and a $32.00 price objective on the stock. Finally, Wall Street Zen downgraded Photronics from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $31.00.

Photronics Company Profile

Photronics, Inc, together with its subsidiaries, engages in the manufacture and sale of photomask products and services in the United States, Taiwan, China, Korea, Europe, and internationally. It offers photomasks that are used in the manufacture of integrated circuits and flat panel displays (FPDs); and to transfer circuit patterns onto semiconductor wafers, and FDP substrates.